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| Folks are talking about a hole coming up. While that’s possible, it doesn’t make sense. Back in February feedlots were struggling to get a cash bid. April futures were trading 3-4$ over February. So let’s ask a question here. If you have a feedlot, and have your February fats hedged, although with the crappy cash bid, why wouldn’t you roll your hedges to April and feed them longer? So now we are and have been pushing fats back. | |
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Cold storage
